Daily Market Analysis

Euro has started the morning with the correction after reaching a 3-weeks low with bearish potential

GBP/USD formed a lower high at the start of this month, pressured by the strong resistance in the 1.30 area.

Despite the overall positive sentiment for stocks, the stock of PepsiCo has experienced a substantial decline this week.

USD/CNH has been steadily declining since the start of October on hopes that the United States and China would take steps towards some kind of a trade deal.

Technical analysis of the USD/CAD

USD/CHF is supported by the 50-day MA at 0.9917. The doji candlestick that formed on the D1 yesterday signals the market uncertainty.

EUR/NZD formed a number of candlesticks with long lower wicks on the D1 - a sign that there’s demand for the euro around 1.7300.

Walt Disney will release its financial results on Thursday, November 7. Let’s have a look at the fundamental and technical picture for this stock. 

USD/TRY has broken above the descending wedge. It is currently testing levels above the 50-day MA at 5.7372.

XAU/USD ran into the resistance area around $1,515 which has been limiting the upside since the start of October - gold hasn’t closed above this level on the D1.

Technical analysis of USD/CHF

Find out what awaits the major currencies this month: Brexit, trade war, central bank meetings and more.